Cineplex Shareholders Approve Transaction with Cineworld

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[{"type":"text","content":"\n\n\n\nCineplex Shareholders Approve Transaction with Cineworld\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Feb. 11, 2020\n\n\n\nTORONTO, Feb. 11, 2020 /CNW/ - (TSX: CGX) – Cineplex Inc. (\"Cineplex\") today announced that at the special meeting of Cineplex shareholders (the \"Meeting\") held earlier today, Cineplex shareholders approved the previously-announced plan of arrangement pursuant to which an indirect wholly-owned subsidiary of Cineworld Group plc (LSE: CINE) (\"Cineworld Group\") has agreed to acquire all of the issued and outstanding common shares (the \"shares\") of Cineplex for $34 per share in cash (the \"Transaction\"). \n\n \n \n\n \nApproximately 99.92% of the shares represented at the Meeting in person or by proxy were voted in favour of the Transaction. Details of the voting results will be filed under Cineplex's profile on SEDAR, which is available online at www.sedar.com. \nCineworld Group separately announced today that its shareholders have granted the necessary approval for the Transaction, with approximately 99.59% of its shares represented at a general meeting of Cineworld Group shareholders in person or by proxy having been voted in favour. \nCineplex intends to apply for a final order from the Ontario Superior Court of Justice (Commercial List) to approve the Transaction on February 18, 2020 (the \"Final Order\"). Closing of the Transaction remains subject to the satisfaction or waiver of certain closing conditions, including receipt of the Final Order and the satisfaction or waiver of certain other conditions to implementing the Transaction that have not yet been satisfied. Subject to the satisfaction or waiver of all of the conditions to the Transaction, the Transaction is expected to be completed in the first half of 2020. Following completion of the Transaction, Cineplex's shares will be delisted from the Toronto Stock Exchange and Cineplex will apply to cease to be a reporting issuer.\nCineplex shareholders who have questions regarding the Transaction may contact Cinep...

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